Commonwealth Bank offers assistance package to NSW flood victims

21 November 2000

The Commonwealth Bank has announced a comprehensive special emergency assistance program to help the Bank's customers affected by floodwaters sweeping through towns and farming areas in various parts of New South Wales.

The Bank's General Manager in NSW, Neil Schafer, said: "The Commonwealth Bank is concerned that families, farmers and business people in the affected areas are suffering because of the spreading floodwaters. Accordingly, we've put special arrangements in place to assist our customers affected by this unseasonal weather".

Mr Schafer said the key features of the Bank's special assistance package included:

loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees

additional loans or changes to repayment arrangements for Commonwealth Bank home loan customers who are experiencing difficulties because of the flooding. They are urged to contact staff at their local branch or the Customer Service Centre on 13 2224 (between 8 am and 8 pm any day of the week),

review and postponement of credit card instalments for customers of good standing and/or consideration of requests for emergency credit limit increases,

the Bank will waive prepayment charges over the next month for affected

customers wishing to access their term deposits ahead of the maturity date.

"Our staff will be happy to discuss with customers their overall financial position, any change in repayment arrangements, or to consider options for additional loan funds," Mr Schafer said.

Customers interested in the special assistance package should contact their local Commonwealth Bank branch or Relationship Manager. For general inquiries, personal customers should telephone 13 2221 and business customers 13 1998, Monday to Friday 8 am to 8 pm.